
	Getting your loan locked down is just one aspect of a home purchase. South Florida REO Inc. is experienced at aiding both new and experienced buyers alike in all areas of real estate. Call us today at (954) 472-2520 if your needs include a real estate pro ready for the business side of real estate.

Do you wish to finance a new home? South Florida REO Inc. can help.

When buying a home, applying for financing is very exasperating for many people, but it doesn't have to be. I've got great connections to various mortgage lenders in the Plantation area, and they've helped me understand a few things that will make the process of applying for a loan uncomplicated.

1 – Create a list of questions about your loan program

If you find that you do not thoroughly understand the ins and outs of all the different loan programs, be sure you bring a list of questions with you. It's a challenge understanding the characteristics of fixed and adjustable rate mortgages. I or one of my trusted lenders will help you understand the advantages and disadvantages of both programs.

2 – Decide when to lock

Locking in the interest rate means that the lender commits to the mortgage interest rates for the loan – generally at the time the loan application is received. By floating the rate, you can lock the rate anytime between the loan application day and issuance of closing documents. Those who prefer to float think the interest rates will drop in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Determine if you want to pay additional points to reduce your rate

Generally you can opt to pay additional points to lower the interest rate of your mortgage loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. Click here to use our points calculator. This tool will help you decide if buying points is the best option for you.

4 – Compile your paperwork

Acquiring a loan requires lots of paperwork, so you should spend some time getting your documentation together. Click here to get a feel for typical information that goes on a loan application.

South Florida REO Inc. 100 S Pine Island Rd Ste 102 Plantation, FL 33324-2614

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